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Senior Manager

Gurugram, India

Job number: 17067858

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Job description

Job Description:

Overview * (Bank of America overview, BA Continuum India overview, Business Overview)

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. BA Continuum is a nonbank subsidiary of Bank of America, part of our Global Delivery Center of Expertise in the bank. Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for the individuals, businesses and institutional investors we serve worldwide. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.BA Continuum India Pvt. Ltd. supports business process, information technology and knowledge process across Consumer Banking, including Card and Home Loans, Legacy Asset Servicing, Global Banking and Markets, and Global Wealth and Investment Management lines of business at Bank of America.

Process Overview*

Global Banking and Markets Finance provides operations support to the Global Markets & Banking Business of BAML. Key Business activities include Business Finance and Control, CFO Initiatives, Operational Risk & Control (OR&C), Global Valuation, Accounting Control / Balance Sheet Testing, Var Back testing related to securities, derivatives, futures, options, currencies (FX), commodities and Business Finance & FPA for Banking Products. Key functions include product control and balance sheet management.

Job Description*

The Balance Sheet Control team, currently based in the Gurgaon, is responsible for performing certain monthly quality assurance processes. These activities primarily include monthly sampling, testing, reporting and the resultant improvement of general ledger reconciliations and manual general ledger adjustments prepared by Global Market Operations (GMO) & Middle Office (MO) business units of the bank.

The Accounting Control Group (ACG) conducts its testing based on a sample population of General Ledger entries and reconciliations. The team is looking to expand the scope of the work, and with the various acquisitions of the bank, the population of GL entries requiring testing have significantly increased.  Therefore, these positions are for an existing team, working together with the Chicago team, to substantially increase the quantity/sample of accounts and reconciliations. In addition, this process works as an internal control to reduce the Bank’s exposure to financial, operational, & regulatory risk per Bank’s Corporate Policy and ensure the BUs working in banks are compliant with Sox and Corporate policy to ensure integrity of the Bank’s financial. From the previous month data, the reconciliation's supporting documentation should be examined in each testing. For each account in the sample, test the reconciliation by discussing with BU Controllers, obtaining and documenting an understanding of the account and reconciliation, including the types of entries that flow through the account, typical reconciling items, etc. Review reconciliations and obtain explanations for any old, unusual or stale-dated items. Select a sample of the reconciling items and trace to its supporting documentation. Associate will then examine, agree and reconcile the G/L balance to the sub ledger. As a final step, the Associate will examine and agree the G/L balance to the bank statement balance and test the entries to determine if the account has been reconciled.

Responsibilities*

  • Associates will be responsible for the sample testing the monthly compilation of the population data of G/L accounts and manual journal entries. This will include obtaining manual entry files from the systems utilized by business unit, as well as obtaining data for GL reconciliation testing
  • Review of Daily/Monthly Manual General Ledger Adjustments: preparing/posting adjustments and compiling supporting documentation.
  • Accounting Control Metric Reporting: Collection of Daily and Monthly Accounting Metrics. 
  • Control Reporting: producing daily status and exception reports.
  • Interact with intra-bank/branch financial controllers to discuss details of Reconciliations/Adjustments and gather clarifications
  • Act as the escalation point of contact for associates for complex queries
  • Ensure timely and accurate dissemination of information to relevant stakeholders
  • Handle non-routine functions and effectively prioritize multiple tasks to ensure all deadlines are met

Requirements*

  • Education*:-Accounting / Finance post graduate Degree 
  • Certifications If Any:- N/A
  • Experience Range*:- 10 Years
  • Mandatory skills*:-
  • Should possess sound knowledge and exposure to front-to-back GL account  reconciliation for Global Equities, Rates & Currencies & Mortgages in Middle Office operations
  • Should have performed reconciliation preparer & reviewer responsibilities for Middle Office owned GL accounts
  • Excellent communication skills, strong attention to detail, have organized approach to handle multiple priorities with multiple stakeholders
  • Desired skills*:-
  • Should possess sound knowledge and exposure to front-to-back GL account  reconciliation for Global Equities, Rates & Currencies & Mortgages in Middle Office operations
  • Should have performed reconciliation preparer & reviewer responsibilities for Middle Office owned GL accounts
  • Excellent communication skills, strong attention to detail, have organized approach to handle multiple priorities with multiple stakeholders

Work Timings*

0230pm – 1130pm (IST)

Job Location*

Gurugram

Posting Date: 13/10/2017

Location:
Gurugram, , JAIPUR HIGHWAY, OLD DELHI,
- India

Full / Part-time: Full time

Hours Per Week: 45

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